How Is Partial Freezing Imposed?

1.	How Is Partial Freezing Imposed?
Answer» Partial freezing is imposed in the following ways: Banks have to give due notice of three months initially to the customers before exercising the OPTION of ‘partial freezing’. After that a REMINDER for further period of three months will be ISSUED. Thereafter, banks shall impose ‘partial freezing’ by allowing all credits and disallowing all debits with the freedom to close the accounts. If the accounts are still KYC non-compliant after six months of imposing initial ‘partial freezing’ banks shall disallow all debits and credits from/to the accounts, classifying them inoperative. Meanwhile, the account holders can revive accounts by submitting the KYC documents. Partial freezing is imposed in the following ways:

Answer»

Partial freezing is imposed in the following ways:

Banks have to give due notice of three months initially to the customers before exercising the OPTION of ‘partial freezing’.
After that a REMINDER for further period of three months will be ISSUED.
Thereafter, banks shall impose ‘partial freezing’ by allowing all credits and disallowing all debits with the freedom to close the accounts.
If the accounts are still KYC non-compliant after six months of imposing initial ‘partial freezing’ banks shall disallow all debits and credits from/to the accounts, classifying them inoperative.
Meanwhile, the account holders can revive accounts by submitting the KYC documents.

Partial freezing is imposed in the following ways:

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